The OM Holdings (ASX:OMH) share price is lifting today

The OM Holdings (ASX: OMH) share price is lifting after the company released news of a protest by workers over its COVID-19 policy.

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The OM Holdings Limited (ASX: OMH) share price is lifting this morning despite news its employees have protested the company's COVID-19 strategy. The protestors demanded a review of the strategy in place at OM Holdings' Malaysian smelter plant which means workers who leave the site must quarantine for 2 weeks on return.

The OM Holdings share price is up 3.1% at the time of writing, trading at 99 cents.

Let's take a closer look at the news released this morning.

Mining worker wearing hard hat and high vis vest holds thumbs up and smiles

Image source: Getty Images

Workers' protest

Today, OM Holdings advised its employees have been frustrated by the company's management of COVID-19 outbreaks.

Since January, the company has provided all of its workers with on-site accommodation and meals. Employees who leave the site or go home have to quarantine for 14 days upon return.

The strict strategy was recently extended, rousing workers to protest on 22 April.

According to the company, only employees who live locally were involved in the protest. They called for a review of the strategy and the ability to commute to work daily as normal.

Om Holdings said it extended the strategy because of another outbreak of COVID-19 in Malaysia. Currently,  Malaysia has confirmed more than 2000 new cases of coronavirus every day for the last 9 days.

Those involved in the protest were offered 2 alternatives to the current strategy. They could go on a scheduled orderly leave rotation with pay or they were given the option of non-rotation incentives.

According to OM Holdings, more than 80% of workers involved chose to continue staying on site.  

The company said the protest did not impact the plant's production nor were any violent incidents or accidents. Company representatives, police and other government bodies were at the protest to ensure the safety of all involved.

OM Holdings share price snapshot

The OM Holdings share price has been having a good year on the ASX so far. 

Currently, the OM Holdings share price is up 74.5% year to date. It's also up by 166% over the last 12 months.

The company has a market capitalisation of around $709 million, with approximately 738 million shares outstanding.

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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